You need to be aware of several things if you are interested in going solar on your New Hampshire residence. Learn about the costs of solar panels, payback periods, leasing options, and Tax credits. This information can help you decide whether solar panels are right for your home. Also, be sure to check the regulations for installing solar panels on your property.
New Hampshire solar panel prices
New Hampshire is not the only state that offers financial incentives for homeowners who invest into solar energy systems. The federal tax credit can be used to save residents up to 30% on the cost of solar equipment. You can also save thousands of money by getting local tax incentives for your solar installation. Find out which incentives are available by using a solar panel calculator.
The price of solar installations varies depending upon the size of both the system and the home. You can get an estimate from a solar calculator and can also compare offers from other solar companies.
Period of payback
Solar panels' payback time is an important factor in deciding whether they are worth the investment. This basic method is to divide the cost of installation by the expected annual production. However, to calculate the payback period properly, more information is needed. A spreadsheet-style document will be provided by some solar contractors that pulls together information from many sources.
You can reduce your electric bill and make additional income by selling excess energy. The government of New Hampshire has established net metering, a program that provides rebates to residents. The program allows solar customers to generate energy and send it to the grid. The utility company receives the energy and credits your electric bills.
Leasing options
New Hampshire leases solar panels have many advantages. Most importantly, you'll get to enjoy 100% of the energy savings right away, without loan payments. In addition, you will get the Federal 30% Tax Credit on your energy bill. A free consultation on solar energy is available for anyone who wants to install solar in their home. It's 100% free!
It is important to fully understand the pros and con of both buying and leasing when making a decision between purchasing and leasing. Solar panels purchased are usually more expensive and will require you to pay a significant amount of money up-front. Leasing is a much more affordable option. You can also benefit from tax credits, rebates and potential profits.
Tax credits
Taking advantage of tax credits for solar panels in New Hampshire is a great way to cut utility costs and offset the initial investment of a new solar energy system. The state's utility commission offers a rebate scheme for residential electric generating systems. New Hampshire homeowners are eligible to receive $0.20 per solar watt. However, rebates are limited to a specific amount of money, usually $1,000. The rebate program can help homeowners save up to 30% on their total solar system costs.
New Hampshire solar customers have the option of net metering, which is an alternative to tax credits. The electric company will track the amount of electricity you produce and credit any surplus to your next bill. Net metering is a way of letting the electricity company know that you are producing more energy than you use, and New Hampshire has some of the best net metering laws in the country. Solar customers can also qualify for the 5th highest national solar rebate. It ranges from $750 perkW to $3750/kW. Other rebates might be available from co-ops in the area.